Last week the incentive industry received some not so good news. Based in Chattanooga, Incentive programs provider Incentium, formerly known as VIPGift, has closed down. It is unclear why the company ceased operation so abruptly. Judging by the message on the company’s website we can assume that it has fallen victim to the tough economic times. The message reads:
“Due to difficult business and economic conditions, Incentium, LLC (the “Company”) was forced to permanently cease all business operations effective February 9, 2011.”
Company assets will be liquidated in an orderly manner for the benefit of its creditors. Any correspondence regarding this matter should be sent to: Incentium Liquidation, P.O. Box 4069, Chattanooga, TN 37405 or emailed to: email@example.com
Like many others, the incentive industry has received quite a blow over the past couple of years; and Incentive Solutions has witnessed clients of all shapes and sizes cancel their reward programs as budgets tightened.
Sadly, 80+ Incentium employees were left without jobs, and clients were left with no support for their programs. If Incentive Solutions can be of any help, feel free to contact us.